Latest India Business News headlines 20th May 2019
- NeSL is planning to offer its platform to insolvency professionals to store data during the bankruptcy resolution process. NeSL has plans to become a platform for data integration from banks, IPs and liquidators.
- Faasos parent company, Rebel Foods, is said to be in talks with Coatue Management of US to lead a $120 million funding round. The funding may put the valuation of the firm at $500 million.
- Tiger Global is said to be in advance discussions for investing in Cred, a Kunal Shah startup. Cred is looking to raise around $100 million.
- Nippon Life of Japan is reportedly looking out to buy a stake of Reliance Group in Reliance Mutual Fund for around Rs.4500 crores. Nippon is an equal partner in the Reliance MF.
- Amazon had to withdraw 33 products showing Hindu gods after around 1.47 Lakh people lodged their protest online.
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- MoC is planning to introduce an AI system in MCA 21 portal to make the compliance process easier as also to ensure that routine enforcement activities go on 24×7 on autopilot.
- As per a reported Facebook Ad Library Report, total spendings on political ads in India during Feb and May 2019 were more than Rs.26.5 Crores. Ad spends on Google and its partner properties like YouTube during this period were reported to be around Rs.27.36 Crores.
- Google, Facebook and Twitter have not agreed to share information related to their correspondence with EC with RTI applicants. Facebook and Google have reportedly denied sharing the information categorically.
- Pratik Pal, VP of TCS Retail Group, has moved to Tata Sons, reportedly for driving the Digital Play business.
- ONGC, Global Infrastructure Partners and Tripura government are planning to buy a 26% stake in IL&FS in ONGC Tripura Power, which runs the Palatana power project in Tripura.
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- Orix Corp. of Japan has expressed interest to buy out the remaining 51% stake held by IL&FS Wind Energy. Orix owns a 49% stake in each of the seven operating wind power plants of the IL&FS group.